MICRO MARKET REPORT LOS ANGELES & MIAMI ISSUE #29 04/15/18 FOR Q1 2018 STATISTICS
1
TABLE OF CONTENTS WEA MESSAGE
3
ZIP CODE 90210 - BEVERLY HILLS
4
ZIP CODE 90211 - BEVERLY HILLS
5
ZIP CODE 90069 - SUNSET STRIP
6
ZIP CODE 90077 - BEL AIR
7
ZIP CODE 90046 - WEST HOLLYWOOD
8
ZIP CODE 90265 - MALIBU
9
ZIP CODE 90272 - PACIFIC PALISADES
10
ZIP CODE 90024 - WESTWOOD
11
ZIP CODE 90049 - BRENTWOOD
12
ZIP CODE 90025 - WEST LA
13
ZIP CODE 90402 - SANTA MONICA
14
ZIP CODE 90005 - HANCOCK PARK
15
ZIP CODE 90027 - LOS FELIZ
16
ZIP CODE 90064 - CHEVIOT HILLS
17
ZIP CODE 90291 - VENICE
18
ZIP CODE 90292 - MARINA DEL REY
19
ZIP CODE 90293 - PLAYA DEL REY
20
MIAMI MARKET OVERVIEW
21
ALL ZIP CODES YEAR TO DATE SALES
22
ABOUT WEA
24
Data provided by First American Title Co. of Los Angeles County records and by SEF MLS of Miami-Dade County records for sales exceeding $1 million.
2
Compare Los Angeles Real Estate Brokerages
A MESSAGE FROM WEA WHAT’S SELLING & WHAT’S NOT The first quarter of the year has been very interesting. We have a new tax law that detrimentally affects our high-priced homebuyers due to the $10K limit on deductible property taxes. In addition, we can no longer deduct our State of California taxes from our federal taxes. This new law is a big blow to California and other states with both high home values and high state tax rates. Here’s how these changes are translating to the real estate market: 1. Homes in the $1M-4M range are still on fire with multiple offers and selling above asking price. 2. Homes in the $4-7M range are still selling swiftly, but not many are receiving multiple offers. 3. Sales of homes in the $5-10M range have slowed as the combination of new tax law changes, lack of deductibility and slowly rising interest rates seem to be weighing them down a bit. 4. Homes in the $10-30M range are experiencing the most difficulty. Sales in this price range have slowed down and, as a result, these homes are staying on the market longer, giving buyers the time they need to seriously consider their options. Generally speaking, buyers in this range don’t have bottomless pockets and a home of $25M, which previously had a deductible property tax of $312,500, will now have only $10K deducted. Additionally, the 13.1% of earnings payable to the State is no longer deductible from the federal tax so if this buyer is making $10M per year that is another $1.3M that’s no longer deductible, which makes a significant difference in the annual cost of carrying the house. 5. Home sales in the over $30M range are surprisingly strong. Buyers with megabucks still want what they want, and we have seen no shortage of sales in the $50M and up range. The biggest challenge is the limited inventory, especially in the high-end market. Buyers today are highly educated and not likely to overpay, especially for the contemporary speculative homes currently flooding the market. Time will tell what happens to these homes and their developers. The bottom line is that, despite the recent tax law changes, the market is still strong, so if you find the right house then buy it at the terms that work for you. Stephen Shapiro Co-Founder, Westside Estate Agency 3
90210 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
8
PRICE IN MILLIONS
H = 10
HHHHHHH 7 6
AVG. PRICE PER TRANSACTION $
5 4
Q1.
2010
2015
2016
2017
2018
5,736,734
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HHHH AVG. PRICE PER TRANSACTION
2018
$
2017 2016 2015
4,341,829
QUARTER 1 2018 vs 2010
2010
+63% SALES
+32% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
QTR. 1 2018
62
11%
$5,736,734
-18%
QTR. 1 2017
56
-3%
$6,992,411
34%
QTR. 1 2016
58
-12%
$5,234,302
-18%
QTR. 1 2015
66
74%
$6,363,765
47%
QTR. 1 2010
38
baseline
$4,341,829
baseline
YTD 2018
62
11%
$5,736,734
-18%
Date
© Westside Estate Agency
4
90211 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
3.0
PRICE IN MILLIONS
H =1
HHHHH 2.5 2.0
AVG. PRICE PER TRANSACTION $
1.5 1.0
Q1.
2010
2015
2016
2017
2018
2,224,800
QUARTER 1 2010
H =1
NUMBER OF SALES NUMBER OF SALES
HHHH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
1,320,000
QUARTER 1 2018 vs 2010 +25% SALES
+69% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
5
-38%
$2,224,800
-23%
Q1. 2017
8
14%
$2,877,375
35%
Q1. 2016
7
17%
$2,129,286
-2%
Q1. 2015
6
50%
$2,170,917
64%
Q1. 2010
4
baseline
$1,320,000
baseline
YTD 2018
5
-38%
$2,224,800
-23%
Date
© Westside Estate Agency
5
90069 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
6
PRICE IN MILLIONS
H = 10
HHHH
5 4
AVG. PRICE PER TRANSACTION
3
$ 2 1
Q1.
2010
2015
2016
2017
2018
4,342,466
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HHH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
1.932,821
QUARTER 1 2018 vs 2010 +107% SALES
+125% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
29
-19%
$4,342,466
14%
Q1. 2017
36
-10%
$3,815,903
-24%
Q1. 2016
40
-2%
$5,027,088
39%
Q1. 2015
41
193%
$3,609,732
87%
Q1. 2010
14
baseline
$1,932,821
baseline
YTD 2018
29
-19%
$4,342,466
14%
Date
© Westside Estate Agency
6
90077 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
10
PRICE IN MILLIONS
H = 10
HH 8 6
AVG. PRICE PER TRANSACTION $
4
8,902,972
2
Q1.
2010
2015
2016
2017
2018
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
2,565,643
QUARTER 1 2018 vs 2010 +29% SALES
+247% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
18
-36%
$8,902,972
44%
Q1. 2017
28
17%
$6,185,143
21%
Q1. 2016
24
-25%
$5,093,875
-27%
Q1. 2015
32
129%
$6,967,000
172%
Q1. 2010
14
baseline
$2,565,643
baseline
YTD 2018
18
-36%
$8,902,972
44%
Date
© Westside Estate Agency
7
90046 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
3.0
PRICE IN MILLIONS
H = 10
HHHHHH 2.5 2.0
AVG. PRICE PER TRANSACTION $
1.5 1.0
Q1.
2010
2015
2016
2017
2018
2,210,966
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HHHH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
1,003,426
QUARTER 2 2018 vs 2010 +62% SALES
+120% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
55
-15%
$2,210,966
-13%
Q1. 2017
65
-22%
$2,534,892
44%
Q1. 2016
83
38%
$1,755,369
-16%
Q1. 2015
60
76%
$2,092,425
109%
Q1. 2010
34
baseline
$1,003,426
baseline
YTD 2018
55
-15%
$2,210,966
-13%
Date
© Westside Estate Agency
8
90265 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
8
PRICE IN MILLIONS
H = 10
HHHHH
7 6
AVG. PRICE PER TRANSACTION
5
$ 4 3
Q1.
2010
2015
2016
2017
2018
6,566,063
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
3,479,972
QUARTER 1 2018 vs 2010 +167% SALES
+89% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
48
-4%
$6,566,063
53%
Q1. 2017
50
-9%
$4,300,050
-11%
Q1. 2016
55
-7%
$4,814,965
-20%
Q1. 2015
59
228%
$6,042,203
74%
Q1. 2010
18
baseline
$3,479,972
baseline
YTD 2018
48
-4%
$6,566,063
53%
Date
© Westside Estate Agency
9
90272 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
6
PRICE IN MILLIONS
H = 10
HHHHHH 5 4
AVG. PRICE PER TRANSACTION $
3 2
Q1.
2010
2015
2016
2017
2018
5,121,882
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HHHHHH AVG. PRICE PER TRANSACTION
2018
$
2017 2016 2015 2010
2,583,873
QUARTER 1 2018 vs 2010 +10% SALES
+98% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
56
-20%
$5,121,882
35%
Q1. 2017
70
19%
$3,787,971
9%
Q1. 2016
59
7%
$3,488,610
-6%
Q1. 2015
55
8%
$3,724,331
44%
Q3T. 2010
51
baseline
$2,583,873
baseline
YTD 2018
56
-20%
$5,121,882
35%
Date
© Westside Estate Agency
10
90024 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
4.0
PRICE IN MILLIONS
H = 10
HH 3.5
AVG. PRICE PER TRANSACTION 3.0
$
2.5
Q1.
2010
2015
2016
2017
2018
3,583,720
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
H 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
2,727,800
QUARTER 1 2018 vs 2010 +90% SALES
+31% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
19
19%
$3,583,720
16%
Q1. 2017
16
-27%
$3,100,531
-2%
Q1. 2016
22
69%
$3,149,407
11%
Q1. 2015
13
30%
$2,834,962
4%
Q1. 2010
10
baseline
$2,727,800
baseline
YTD 2018
19
19%
$3,583,720
16%
Date
© Westside Estate Agency
11
90049 AVG. PRICE PER TRANSACTION YTD AVG.
NUMBER OF SALES
5
PRICE IN MILLIONS
H = 10
QUARTER 1 2018
QTR. AVG.
HHHHHHHH 4
AVG. PRICE PER TRANSACTION 3
$
2
Q1.
2010
2015
2016
2017
2018
4,675,480
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HHHHH AVG. PRICE PER TRANSACTION
2018
$
2017 2016 2015 2010
2,444,780
QUARTER 1 2018 vs 2010 +52% SALES
+91% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
76
15%
$4,675,480
12%
Q1. 2017
66
27%
$4,190,750
47%
Q1. 2016
52
6%
$2,841,394
-27%
Q1. 2015
49
-2%
$3,911,633
60%
Q1. 2010
50
baseline
$2,444,780
baseline
YTD 2018
76
15%
$4,675,480
12%
Date
© Westside Estate Agency
12
90025 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
2.5
PRICE IN MILLIONS
H =5
HHH 2.0
AVG. PRICE PER TRANSACTION 1.5
$
1.0
Q1.
2010
2015
2016
2017
2018
1,598,433
QUARTER 1 2010
H =5
NUMBER OF SALES NUMBER OF SALES
HH AVG. PRICE PER TRANSACTION
2018
$
2017 2016 2015 2010
1,049,429
QUARTER 1 2018 vs 2010 +114% SALES
+52% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
15
7%
$1,598,433
-20%
Q1. 2017
14
-13%
$2,006,286
40%
Q1. 2016
16
7%
$1,433,375
13%
Q1. 2015
15
114%
$1,273,867
21%
Q1. 2010
7
baseline
$1,049,429
baseline
YTD 2018
15
7%
$1,598,433
-20%
Date
© Westside Estate Agency
13
90402 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
5
PRICE IN MILLIONS
H = 10
HH 4
AVG. PRICE PER TRANSACTION 3
$
2
Q1.
2010
2015
2016
2017
2018
4,767,731
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HH AVG. PRICE PER TRANSACTION
2018
$
2017 2016 2015 2010
2,026,067
QUARTER 1 2018 vs 2010 -13% SALES
+135% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
13
-48%
$4,767,731
32%
Q1. 2017
25
-14%
$3,604,080
-23%
Q1. 2016
29
81%
$4,695,948
10%
Q1. 2015
16
7%
$4,280,688
111%
Q1. 2010
15
baseline
$2,026,067
baseline
YTD 2018
13
-48%
$4,767,731
32%
Date
© Westside Estate Agency
14
90005 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
6
PRICE IN MILLIONS
H =1
HHHHHHH
5 4
AVG. PRICE PER TRANSACTION
3
$ 2 1
Q1.
2010
2015
2016
2017
2018
5,130,714
QUARTER 1 2010
H =1
NUMBER OF SALES NUMBER OF SALES
HHHHHHHHH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
1,274,222
QUARTER 1 2018 vs 2010 -22% SALES
303% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
7
-13%
$5,130,714
73%
Q1. 2017
8
-11%
$2,961,250
60%
Q1. 2016
9
-40%
$1,852,631
-17%
Q1. 2015
15
67%
$2,223,733
75%
Q1. 2010
9
baseline
$1,274,222
baseline
YTD 2018
7
-13%
$5,130,714
73%
Date
© Westside Estate Agency
15
90027 AVG. PRICE PER TRANSACTION YTD AVG.
NUMBER OF SALES
3.5
PRICE IN MILLIONS
H = 10
QUARTER 1 2018
QTR. AVG.
HHHH
3.0 2.5 2.0
AVG. PRICE PER TRANSACTION
1.5
$
1.0 0.5
Q1.
2010
2015
2016
2017
2018
2,038,069 H = 10
QUARTER 1 2010 NUMBER OF SALES
NUMBER OF SALES
HH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
916,263
QUARTER 1 2018 vs 2010 +89% SALES
+122% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
36
20%
$2,038,069
-38%
Q1. 2017
30
-30%
$3,284,303
71%
Q1. 2016
43
30%
$1,922,081
18%
Q1. 2015
33
74%
$1,635,121
78%
Q1. 2010
19
baseline
$916,263
baseline
YTD 2018
36
20%
$2,038,069
-38%
Date
© Westside Estate Agency
16
90064 AVG. PRICE PER TRANSACTION YTD AVG.
NUMBER OF SALES
2.5
PRICE IN MILLIONS
H = 10
QUARTER 1 2018
QTR. AVG.
HHHHH 2.0
AVG. PRICE PER TRANSACTION 1.5
$
1.0
Q1.
2010
2015
2016
2017
2018
1,970,244 H = 10
QUARTER 1 2010 NUMBER OF SALES
NUMBER OF SALES
HH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
1,129,816
QUARTER 1 2018 vs 2010 +116% SALES
+74% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
41
-31%
$1,970,244
-10%
Q1. 2017
59
31%
$2,179,476
33%
Q1. 2016
45
32%
$1,639,649
18%
Q1. 2015
34
79%
$1,391,971
23%
Q1. 2010
19
baseline
$1,129,816
baseline
YTD 2018
41
-31%
$1,970,244
-10%
Date
© Westside Estate Agency
17
90291 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
5
PRICE IN MILLIONS
H = 10
HHHH 4 3
AVG. PRICE PER TRANSACTION $
2 1
Q1.
2010
2015
2016
2017
2018
2,244,176
QUARTER 1 2010
H = 10
NUMBER OF SALES NUMBER OF SALES
HHH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
1,045,283
QUARTER 1 2018 vs 2010 +61% SALES
+115% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
37
-29%
$2,244,176
-45%
Q1. 2017
52
30%
$4,069,567
100%
Q1. 2016
40
14%
$2,039,315
7%
Q1. 2015
35
52%
$1,912,257
83%
Q1. 2010
23
baseline
$1,045,283
baseline
YTD 2018
37
-29%
$2,244,176
-45%
Date
© Westside Estate Agency
18
90292 AVG. PRICE PER TRANSACTION YTD AVG.
QUARTER 1 2018
QTR. AVG.
NUMBER OF SALES
3.0
PRICE IN MILLIONS
H =1
HHHHHHHHHHHH 2.5 2.0
AVG. PRICE PER TRANSACTION $
1.5 1.0
Q1.
2010
2015
2016
2017
2018
2,305,880
QUARTER 1 2010
H =1
NUMBER OF SALES NUMBER OF SALES
HHHHHH 2018
AVG. PRICE PER TRANSACTION $
2017 2016 2015 2010
1,451,500
QUARTER 1 2018 vs 2010 +100% SALES
+59% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
12
20%
$2,305,880
-13%
Q1. 2017
10
0%
$2,650,700
43%
Q1. 2016
10
-23%
$1,849,150
-23%
Q1. 2015
13
117%
$2,403,846
66%
Q1. 2010
6
baseline
$1,451,500
baseline
YTD 2018
12
20%
$2,305,880
-13%
Date
© Westside Estate Agency
19
90293 AVG. PRICE PER TRANSACTION YTD AVG.
NUMBER OF SALES
2.0
PRICE IN MILLIONS
H =1
QUARTER 1 2018
QTR. AVG.
HHHHHHHHHHHH HHHH 1.5
AVG. PRICE PER TRANSACTION $
1.0
Q1.
2010
2015
2016
2017
2018
1,711,563
QUARTER 1 2010
H =1
NUMBER OF SALES NUMBER OF SALES
HHHH 2018 2017 2016 2015 2010
AVG. PRICE PER TRANSACTION $
1,385,500
QUARTER 1 2018 vs 2010 +300% SALES
+24% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
16
23%
$1,711,563
0%
Q1. 2017
13
18%
$1,719,923
12%
Q1. 2016
11
-27%
$1,535,955
-9%
Q1. 2015
15
275%
$1,693,033
22%
Q1. 2010
4
baseline
$1,385,500
baseline
YTD 2018
16
23%
$1,711,563
0%
Date
© Westside Estate Agency
20
MIAMI MARKET VIEW
METRO MIAMI OVERVIEW AVG. PRICE PER TRANSACTION YTD AVG.
QTR. AVG.
3.0
PRICE IN MILLIONS
H = 50
QUARTER 1 2018 AVG. NUMBER OF SALES
HHHHHHHHH AVG. PRICE PER TRANSACTION 2.5
$
H =50
QUARTER 1 2010
2.0
Q1.
2,379,431
2010
2015
2016
2017
2018
AVG. NUMBER OF SALES
HHHHH
NUMBER OF SALES
AVG. PRICE PER TRANSACTION 2018 2017
$
2,035,410
2016 2015 2010
QUARTER 1 2018 vs 2010 +113% SALES
+17% PRICE
Avg Sales
Δ vs Previous Year
Avg. Price
Δ vs Previous Year
Q1. 2018
439
13%
$2,379,431
-7%
Q1. 2017
388
-11%
$2,545,733
10%
Q1. 2016
435
-14%
$2,307,504
-4%
Q1. 2015
504
145%
$2,395,744
18%
Q1. 2010
206
baseline
$2,035,410
baseline
YTD 2018
439
13%
$2,379,431
-7%
Date
© Westside Estate Agency
21
YEAR TO DATE SALES 2010
2015
2016
Zip Code
Sales
Average Price
Sales
Δ vs ‘07
Average Price
Δ vs ‘07
Sales
Δ vs ‘10
Average Price
Δ vs ‘10
90210
38
$4,341,829
66
74%
$6,363,765
47%
58
-12%
$5,234,302
-18%
90211
4
$1,320,000
6
50%
$2,170,917
64%
7
17%
$2,129,286
-2%
90069
14
$1,932,821
41
193%
$3,609,732
87%
40
-2%
$5,027,088
39%
90077
14
$2,565,643
32
129%
$6,967,000
172%
24
-25%
$5,093,875
-27%
90046
34
$1,003,426
60
76%
$2,092,425
109%
83
38%
$1,755,369
-16%
90265
18
$3,479,972
59
228%
$6,042,203
74%
55
-7%
$4,814,965
-20%
90272
51
$2,583,873
55
8%
$3,724,331
44%
59
7%
$3,488,610
-6%
90024
10
$2,727,800
13
30%
$2,834,962
4%
22
69%
$3,149,407
11%
90049
50
$2,444,780
49
-2%
$3,911,633
60%
52
6%
$2,841,394
-27%
90025
7
$1,049,429
15
114%
$1,273,867
21%
16
7%
$1,433,375
13%
90402
15
$2,026,067
16
7%
$4,280,688
111%
29
81%
$4,695,948
10%
90005
9
$1,274,222
15
67%
$2,223,733
75%
9
-40%
$1,852,631
-17%
90027
19
$916,263
33
74%
$1,635,121
78%
43
30%
$1,922,081
18%
90064
19
$1,129,816
34
79%
$1,391,971
23%
45
32%
$1,639,649
18%
90291
23
$1,045,283
35
52%
$1,912,257
83%
40
14%
$2,039,315
7%
90292
6
$1,451,500
13
117%
$2,403,846
66%
10
-23%
$1,849,150
-23%
90293
4
$1,385,500
15
275%
$1,693,033
22%
11
-27%
$1,535,955
-9%
Miami
206
$2,035,410
504
145%
$2,395,744
18%
435
-14%
$2,307,504
-4%
PROPERTIES OF $1M OR MORE 2017
Δ 2010 VS 2018
2018
Sales
Δ vs ‘15
Average Price
Δ vs ‘15
Sales
Δ vs ‘16
Average Price
Δ vs ‘16
Sales
Average Price
56
-3%
$6,992,411
34%
62
11%
$5,736,734
-18%
63%
32%
8
14%
$2,877,375
35%
5
-38%
$2,224,800
-23%
25%
69%
36
-10%
$3,815,903
-24%
29
-19%
$4,342,466
14%
107%
125%
28
17%
$6,185,143
21%
18
-36%
$8,902,972
44%
29%
247%
65
-22%
$2,534,892
44%
55
-15%
$2,210,966
-13%
62%
120%
50
-9%
$4,300,050
-11%
48
-4%
$6,566,063
53%
167%
89%
70
19%
$3,787,971
9%
56
-20%
$5,121,882
35%
10%
98%
16
-27%
$3,100,531
-2%
19
19%
$3,583,720
16%
90%
31%
66
27%
$4,190,750
47%
76
15%
$4,675,480
12%
52%
91%
14
-13%
$2,006,286
40%
15
7%
$1,598,433
-20%
114%
52%
25
-14%
$3,604,080
-23%
13
-48%
$4,767,731
32%
-13%
135%
8
-11%
$2,961,250
60%
7
-13%
$5,130,714
73%
-22%
303%
30
-30%
$3,284,303
71%
36
20%
$2,038,069
-38%
89%
122%
59
31%
$2,179,476
33%
41
-31%
$1,970,244
-10%
116%
74%
52
30%
$4,069,567
100%
37
-29%
$2,244,176
-45%
61%
115%
10
0%
$2,650,700
43%
12
20%
$2,305,880
-13%
100%
59%
13
18%
$1,719,923
12%
16
23%
$1,711,563
-0%
300%
24%
388
-11%
$2,545,733
10%
439
13%
$2,379,431
-7%
113%
17% 23
Success built on superior market knowledge. And understanding our clients. Westside Estate Agency is defined by the values and the vision of its two founders, Stephen Shapiro and Kurt Rappaport. In 1998, Stephen Shapiro and Kurt Rappaport were two of the most well-known, highly compensated realtors in Los Angeles. Still, they felt there had to be a better way to meet the very high expectations and individual needs of their high-net worth clientele. It wasn’t long before the two began making plans for a different kind of brokerage. A real estate agency committed to putting client service first, and completely satisfying the needs and desires of each client. In the words of Stephen Shapiro, “Negotiations conducted with intelligence and integrity result in what we call the ‘triple win.’ Great results for the buyer, the seller, and WEA.” In 1999, Shapiro and Rappaport opened Westside Estate Agency with a focus on the most expensive and prestigious homes and estates in the prime Westside areas of Los Angeles. In 2010, WEA opened its Malibu office to service that world famous community. Today, WEA has a clientele without parallel, at the pinnacle of the business, financial, technology and entertainment industries generating billions in sales and the highest average price per sale in the industry. The company added its Miami, Florida location in early 2016. Working hand-in-hand with their commitment to tailored service has been the agency’s industry leading application of technology. WEA has been at the forefront in the category for its technology use, from being the first to implement a fully integrated network computing system to
the first to use scanning technology, cloud technology, e-signatures and paperless filing to provide better service to clients. WEA continues to stay on the cuttingedge of innovation, keeping a pulse on and implementing new technologies as soon as they’re available. Stephen and Kurt have assembled a team of full-time real estate pros, known for expertise, experience, integrity and discretion. Each agent possesses an in-depth knowledge of the inventory and current market conditions; our clients turn to us for candid insights into current market value, the sales potential of properties and marketing strategies for our current and prospective clients. Of course, WEA has retained its independence, in the face of widespread acquisition by a handful of impersonal agencies. Remaining independent means we answer to our clients, instead of a corporate headquarters thousands of miles away. It means we don’t need to worry about a conglomerate’s bottom-line or using an inhouse escrow or title company; rather, we’re free to focus on getting the best and doing the best for each client. In practical terms, this translates into efficiency and responsiveness. Making the most of every minute by showing just the homes, in just the neighborhoods, that meet our clients’ criteria. Quite frequently, we’re even able to offer new properties not yet on the market. Finally, it means WEA’s agents have a direct conduit to the top. Unlike the non-owner operated, robo brokerages, our principals play a role in, and keep an eye on every WEA transaction. In sense, every WEA client is also a client of Stephen’s and Kurt’s. Which only make sense, as it’s with these two that the WEA story began.
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Contact Us Beverly Hills Office
Malibu Office
Miami Office
Westside Estate Agency 210 North Canon Drive Beverly Hills, CA 90210
Westside Estate Agency 23410 Civic Center Way Malibu, CA 90265
Westside Estate Agency 2100 Ponce de Leon Blvd 7th Floor Coral Gables, FL 33134
Tel: (310) 247-7770 SalesBH@WEAhomes.com
Tel: (310) 456-1171 SalesMalibu@WEAhomes.com
Tel: (305) 447-1471 SalesMiami@WEAhomes.com
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